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Full text of "Annual Evaluation Report Fiscal Year 1984"

523-2
Table 1
Impact Data on Annual  Interest Subsidy Grants

1983                       1984                      1985*

Total number of approved loans for

interest subsidy commitments                              630                        625                       619

Total number of loans in pay status                621                        619                       619

Total number of loans not in pay status            960

Total number of loans paid-off,

terminated, and/or withdrawn                                  1                            5                           6

Average amount of interest

subsidy                                                                $38,869                $38,422                $38,400

Total outstanding volume of

loans for which interest

subsidies are made                             $1,234,000,000 $1,208,000,000 $1,180,000,000

^Estimated

Source:    See E. below

c*   Costs, Benefits and Effectiveness (Continued)

Program Effectiveness: From the program's inception in FY 1970, 711
grants have been approved, subsidizing a $1.4 billion loan volume. The
Federal subsidy has exceeded $267 million through FY 1984.

D.     PI ans for Program Improvement and Recommen_dat1 ons for Legl siatlon

To meet the Federal commitment to pay interest subsidies on the remaining
commercial loans for construction projects approved prior to fiscal year
1974, appropriations as needed will be requested. Funds will support
subsidies against the remaining loan volume of $1.18 billion in FY 1985.
No new awards will be made. Appropriations, and appropriation requests
in future years, will decrease gradually as the loans subject to Interest
subsidies are retired. The Department will use $4,773,000 of the
$8,392,668 in unobligated funds for interest subsidies in 1985.

E.    Supporting Studies and Analyses Cited Above

Program files, Office of Postsecondary Education, U.S. Department of
Education, 1984.

F.    Other Supporting Data
Nonebeen paid in full, and 43 have been terminated or with-